Economy added 146,000 jobs in November

Modest hiring continued in November and the unemployment rate fell to its lowest level in nearly four years, according to a report released Friday.

The U.S. economy added 146,000 jobs in November, and the unemployment rate fell to 7.7 percent from 7.9 percent in October, the Labor Department said. That's the lowest unemployment rate since December 2008.

Economists surveyed by CNNMoney had expected a far weaker report, factoring in distortions from Superstorm Sandy. Despite the storm, the Labor Department said its survey response rates were in normal ranges.